Basic Real Estate Terms

One of the most difficult step in launching new restaurants is finding a location.

Through our real estate service, you can find the ideal place for your new restaurant.

The following are some basic real estate terms to make a property contract.

Deposit: The deposit money that renter is required to deposit when making a rental agreement. The deposit is to be refunded at the end of contract.

Key Money

Key money is a non-refundable fee considered as gratitude and is paid to lessor by the renter.

Guarantee Money

Guarantee money that is to be deposited from renter to lessor.

Concession Fee

Concession Fee is a fee to purchase lending rights. Concession Fee enables purchasing and selling to a third party.

Transfer Fee

As a recent trend, the transfer of rental rights and operation rights are not permitted under the rental contract for retail property.

Management Fee & Community Fee

All tenants are required to pay for facility maintenance.

Renewal Fee

Renter is required to pay this fee for the renewal of a rental contract at the end of the contract period.

Depreciation

The gap between the deposit fee paid at the beginning of contract and the refund paid back at the end of contract.

Agent Fee

Required to pay to the real estate agency. In the case of selling and purchasing property, both seller and purchaser are required to pay 3% of the price in addition to another \60,000. In case of renting, agent fee is required to pay half rent to one month of rent in most of cases by both lessor and renter.

Reserve Fund

Required to be paid monthly for the future maintenance and repair of the building.